KUALA LUMPUR, 20 June 2025 – Bank Pembangunan Malaysia Berhad (BPMB) today marked a significant milestone in its commitment to employee welfare with the signing of the 13th Collective Agreement with the National Union of Commercial Workers (NUCW).
The agreement, which applies to BPMB’s non-executive staff, introduces comprehensive enhancements to salary, leave entitlements, medical benefits, and workplace allowances.
Negotiations began on 7 August 2024 and concluded efficiently within three sessions by 29 August 2024, reflecting the strong working relationship and shared understanding between both parties. The agreement was endorsed by BPMB’s Board of Directors and subsequently approved by the Ministry of Finance on 22 April 2025.
Speaking at the ceremony, BPMB’s Group Chief Executive Officer, Dato’ Muzaffar Hisham, expressed appreciation for the constructive engagement between the Bank and the Union.
“This agreement reflects our shared commitment to building a supportive and inclusive workplace. Every enhancement was made with our people in mind because they are central to our continued success.”
The newly signed agreement introduces revisions to salary scales, including adjustments of up to 13%, while maintaining annual increments at 5%. Leave provisions have also been enhanced, with extended maternity and paternity leave, broader compassionate leave coverage, and the introduction of Hajj leave for long-serving employees.
Medical benefits have been significantly expanded, with higher limits for inpatient and outpatient treatment, improved maternity-related coverage, and a new annual health screening allowance.
Employees will also benefit from revised workplace allowances, including increased mileage and meal claims, an annual provision for uniformed footwear, and a newly introduced mobile phone reimbursement.
Additionally, new provisions now allow the carry-forward and partial encashment of annual leave, demonstrating BPMB’s continued emphasis on work-life balance and employee well-being. The signing ceremony was held at BPMB’s headquarters and attended by representatives from the NUCW, as well as employees of BPMB.
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About Bank Pembangunan Malaysia Berhad (BPMB)
Incorporated on 28 November 1973, Bank Pembangunan Malaysia Berhad is a development financial institution wholly owned by Minister of Finance (Incorporated). The Bank holds the highest ‘AAA’ rating from both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad and operates under the regulatory oversight of Bank Negara Malaysia as stipulated by the Development Financial Institution Act 2002.
With Group Total Assets valued at RM29.0 billion as of 31 December 2023, Bank Pembangunan is well-equipped to meet the financing and development needs of Malaysian businesses. Effective 1 May 2025, EXIM Bank and SME Bank became subsidiaries of Bank Pembangunan Malaysia Berhad.
For more information, visit www.bpmb.com.my.